Juhl Energy completes acquisition of wind farms in Iowa.

By Editor


Juhl Energy has completed the acquisition of two operating wind farms in Iowa in $4 million becoming its exclusive owners on 11th August.

The two GE XLE 1.62 MW wind turbines operating since 2011 are located 10 miles apart from each other in Iowa near Manley and Kensett.

These two projects represent plans under 50 MWs –the market sector where Juhl stands leading others in its ability to own, operate and maintain such assets, stated, John Mitola, president, Juhl Energy.

Juhl wind

The Iowa projects have been acquired with bank financing and Juhl Renewable Asset Inc (JRAI) preferred stock, created in 2011.

At present, Juhl and the JRAI subsidiary own four wind projects totaling approximately 25 MW.

Currently JRAI Preferred stock is given only to accredited investors who have long-term relationship with the Company and these subsidiaries are paying a 9 percent yield reliably since inception.

Company has now set a goal of 200 MW that represent energy production assets with an initial installed cost of $400 million, commented Mitola.

In addition, the JRAI Preferred equity vehicle, helps to secure assets more quickly, with a competitive cost of capital, while providing investors with a solid annual yield, added Mitola.

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